Whether you are saving for your first home or looking at future income when you retire, the way we manage our money in the present has never been so important. From an early age we learn the basics in personal finance from saving those pennies in your NatWest piggy bank to begging your parents for the latest trainers, we've been surrounded by constant signals of how to spend and save our hard earned cash from the year dot. Research by the Personal Finance Group highlighted the average age that children start to purchase online is ten. So with this primary knowledge of how to use a debit or credit card, learning about money management is an ever-important topic of conversation with people of all ages.
Money management and a basic financial education is being implemented into schools across the UK in the hope that from a young age, children will be able to understand and respect the role it plays for their financial future. With that in mind, there are always times we'll need an extra helping hand deciding what route to take or perhaps advice when we find ourselves in difficulty. With tighter schedules and busier lives, finding the time to think about how we manage our finances can be tricky. Here are some easy ways to help you educate yourself to a healthier financial future.
Mobile apps
Technology is playing a huge role in how we spend, save, invest and manage our money. With hectic lifestyles and ever changing schedules, technology has brought advances on how to keep track of everything on the go. From the latest apps that can offer a mobile budgeting tool to investment options on the move, there is a range of useful resources whatever your circumstances. Apps such as OnTrees from MoneySuperMarket make it easy for you to keep an eye on your spending habits. This app tracks everything going in and out of your different accounts, all in one place. There are plenty of other informative budgeting apps out there including Mint, Wally, GoodBudget and many others. From quick tips on finances to comparison calculators, there'll be a wealth of information at your fingertips so be sure to check them out in the iOS and Android store.
Online resources
This might sound like an obvious one but the internet is a hive of information on anything and everything you want to know about personal finance. Websites such as MoneySavingExpert.com are a respected source, with topics covering everything from shopping and insurance to credit cards and property. They also offer tools and calculators to budget, plan and save money on a range of everyday things. Researching online is also a great way to get background and regulation information; for example if you decide to invest your money in currency, having knowledge of FCA regulated forex brokers is a helpful starting point. It's always a wise idea to accompany your research with professional advice if you have little knowledge on the topic but studying widely available information is key to seeking the right product and service for your needs.
Family and peer advice
A lot of financial information and advice is gained from the people closest to us, and sometimes it's not all helpful. Receiving recommendations and tips can be a double-edged sword, as what might work for them, may not work for you but some of the best ideas can also come from people that have experienced it first hand. It might be they can tell you their experiences with a company's customer service or that they found a fantastic financial product that's helped them get back on track. However you use this information, pairing it with your own research and professional advice can help you with your personal finance goals.
Professional Help
Employing the help of a